Blum Co. has the following balance sheet: 2023 Cash A/R Inventory L/T Investments Equipment Accum Depr A/P Accrued expenses Bonds Payable Common Stock Retained Earnings $18,000 17,500 16,000 13,000 19,000 (12,000) $69,000 47,000 22,000 11,500 $10,500 $12,000 2,000 14,000 19,000 24,500 2022 $11,500 13,000 19,000 14,000 17,000 (11,500) $ 9,000 3,000 15,000 17,000 19,000 The condensed income statement for 2023 is as follows: Sales COGS Gross Profit Operating expenses Net Income Additional Data: Equipment was bought for cash. Investments were sold at book value. Dividends of 5,000 were paid in cash. Stock was issued for cash. Bonds were retired for cash. Prepare a Statement of Cash Flows (Indirect Method).for 2023.

Blum Co. has the following balance sheet: 2023 Cash A/R Inventory L/T Investments Equipment Accum Depr A/P Accrued expenses Bonds Payable Common Stock Retained Earnings $18,000 17,500 16,000 13,000 19,000 (12,000) $69,000 47,000 22,000 11,500 $10,500 $12,000 2,000 14,000 19,000 24,500 2022 $11,500 13,000 19,000 14,000 17,000 (11,500) $ 9,000 3,000 15,000 17,000 19,000 The condensed income statement for 2023 is as follows: Sales COGS Gross Profit Operating expenses Net Income Additional Data: Equipment was bought for cash. Investments were sold at book value. Dividends of 5,000 were paid in cash. Stock was issued for cash. Bonds were retired for cash. Prepare a Statement of Cash Flows (Indirect Method).for 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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